E2open Parent Holdings, Inc. announced its financial results for the fiscal second quarter ended August 31, 2024. The company reported GAAP subscription revenue of $131.6 million, which was at the high end of its guidance range but represented a decrease from $134.7 million in the prior year quarter. Total GAAP revenue for the quarter was $152.2 million, a 4.0% decline compared to $158.5 million in the same period last year.
Despite the year-over-year revenue decline, E2open's net loss attributable to E2open Parent Holdings, Inc. improved to $(29.863) million, compared to a net loss of $(34.872) million in Q2 FY24. Basic earnings per share also improved to $(0.10) from $(0.12) year-over-year. The company noted strong adjusted EBITDA margins and an increase in quarterly subscription bookings both year-over-year and sequentially, indicating progress in client retention efforts.
However, E2open experienced delays in closing certain large, complex deals due to extended client decision timelines. As a result, the company adjusted its full-year 2025 subscription and services revenue guidance to a more conservative view, while maintaining its full-year adjusted EBITDA guidance. This adjustment reflects the slower pace of new subscription bookings needed to support double-digit growth, despite high win rates on deals in advanced stages.
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